Buying Time: Continuation Funds Easing Private Equity Exits
An emerging option to extend portfolio company deadlines is gaining momentum, eclipsing go-public strategies or M&A.
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Natural Gas
EIA: NatGas Storage Withdrawal Eclipses 300 Bcf
The U.S. Energy Information Administration’s storage report failed to lift natural gas prices, which have spent the week on a downturn.
Unconventional
Hibernia IV Joins Dawson Dean Wildcatting Alongside EOG, SM, Birch
Hibernia IV is among a handful of wildcatters—including EOG Resources, SM Energy and Birch Resources—exploring the Dean sandstone near the Dawson-Martin county line, state records show.
Acquisitions & Divestitures
Camino Reportedly Seeking $2B Sale as Midcon M&A Heats Up
Oklahoma producer Camino Natural Resources—one of the Midcontinent’s largest private E&Ps—is reportedly exploring a sale in the range of $2 billion.
Tankers
Overbuilt Fleet of LNG Tankers Sinking Cargo Transport Rates
LNG shipping rates are at historic lows as a flooded transport market waits for projects to come online and more cargoes to move.
Earnings
Hess Corp. Bucks E&P Trend, Grows Bakken Production by 7%
Hess Corp. “continues to make the most of its independent status,” delivering earnings driven by higher crude production and lower operating costs, an analyst said.
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Oil and Gas Investor Magazine
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.